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the debt ceiling, you are right. but the point is that this money is money that congress passed and appropriated. the congress has to vote on the money. they vote on it. pay your bill. >> if you can't vote on a budget, how can you do that? >> bob: every dime was passed by the congress. >> andrea: first, democratically controlled. >> bob: for two years. >> andrea: he can't say i have no responsibility here. >> it's not realistic. >> the issue, he stood in front of the american people and said i'll do this. elected congress hands and let president obama, czar, king obama decide what to do for the whole country. by the way, for the kids, too. today is a snapshot in time and say we need to pay the bills. yes. but we don't need to run it up in the next 10 the 15 years. >> bob: it's much more dangerous to leave fair trade of the credit of the united states government in gutter if we don't raise the debt ceiling. he can, under lot of legal con industry tutionm lawyers who believe that there is a way for him to do this without -- >> dana: imagine if president bush tried that? >> bob: st
to raise the debt ceiling, right? president obama warned he will not enter into another game of brinkmanship as he referred to it over the debt sealing with republicans. >> the issue here is whether or not america pays its bills. we are not a deadbeat nation. if congressional republicans refuse to pay america's bills on time, social security checks and veterans benefits will be delayed. investors around the world will ask if the united states of america is in fact a safe bet. the full faith and credit of the united states of america is not a bargaining chip. martha: a lot of talk about the president's demeanor at that news conference yesterday. we'll get into that a little bit more coming up but for now does this really come down to an issue of raising the spending limit or defaulting on our credibility as the president has talked about. let's bring in stuart varney, host of "varney & company" on fox business network. so, stuart, you feel the way he is framing this is incorrect? >> yes. we're not going to default, period. we are not going to default. the default means that yo
when he was a junior senator from illinois who opposed raising the debt ceiling. that's right, barack obama, america's lecturer in chief scolding republicans for linking to the debt ceiling. here is what the anointed one said in march of 2006 leadership means the buck stops here, instead washington is shifting the burden of bad choices today on the backs of our children and grandchildren. america has a debt and a failure of leadership. americans deserve better i therefore intend to oppose the effort to increase america's debt limit. obama as senator did precisely what he's saying should not be done. but obama being obama and doing so, well, he's demonstrating his insufferable moral superiority. the second trait we saw from obama during his press conference, his demagoguery was on display, he said that republicans were suspicious about social security and government support for the elderly and spending money on medical research and then get this, suspicious about programs a, making sure that kids and poverty are getting enough to eat. this is not only deeply dishonest, it's a gross dis
, president obama raising eyebrows say we are not a deadbeat nation, but is he right? and as the debt ceiling comes closer, will the white house use the nuclear option? does he have the legal authority to do so? that's next. this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. ♪ gerri: is another credit downgrade coming? fitch warning today they will downgrade the u.s. triple-a-rated give the debt ceiling is not raised. with more of possible economic fallout, moody's chief economist. all right. if they do this, what happens to the economy, the stock market? >> well, i would think that financial markets have had enough warning of a possible downgrade of the u.s. aaa credit rating by an agency other than s&p, and thus perhaps it would not have that damaging impact. the downgrade was not especially g. that being said there will be a negative psych
afternoon to both of you. jared, if president obama were the one holding the debt ceiling hostage, right as the housing, auto, and retail sectors seem to be rebounding, wouldn't the house republicans be calling the president's tactics those of a socialist who wanted to bring down the american economy? >> i think they would, and i appreciate your bringing the economy into it. the president did that yesterday. the more we talk about the debt ceiling after obsessing over the fiscal cliff, the more i look at the whole thing as a massive dangling the key or, you know, don't look over here at the real economy, which is where people would really like policymakers to be dealing, but look at this so-called fiscal crisis which doesn't even exist. the president very clearly, and i thought helpfully, spelled out the numbers yesterday and actually to get from where we are, given the spending cuts and tax increases that we've implemented so far, to where we need to be to stabilize the debt, is not that heavy a lift if we had a functional politics that was actually paying attention to what needs to be
then and inappropriate now? >> because there was no imminent threat of the debt ceiling not being raised, right? these were protest vote ofs, as opposed to organized efforts -- >> neil: i don't know. i covered at the time. that was a close call. that was a close call. every prominent democrat voted to stop it. you are right nretrospect tdidn't happen and like the prior incidents, it never happened. but i just worry about giving a president of either party cart blanch authority to go ahead and raise the debt ceiling t. does take away, what little incentive and back bone there is to show a back bone, doesn't it? >> i don't agree. neil, i have a lot of respect for you and this show. i just don't agree with you. what i wish would happen right now, let paul ryan -- the republicans are in control of the house. they have a budget committee chairman who is nationally regarded, vice-president of the republican party. let him hold hearings, engage the american people, pass a budget, challenge the democrats to meet him halfway -- >> neil: i am not saying -- [overlapping dialogue] >> neil: but they do come
senator from illinois who opposed raising debt ceiling that. is right. barack obama scolding republicans for linking p spending cuts to raising debt ceiling himself voted against raising the debt ceiling. here is what the anointed one said in 2006, said leadership means the buck stops here, washington is shifting burden of bad choices today onto the backs of our children and our grandchildren. er america has a debt, and a failure of leadership. americans deserve better, i, therefore, intend to oppose the efforts to increase american's debt limit so he is doing what he said shouldn't be done. but in doing so is demonstrating his morale superiority. the second thing we saw today is on full display he said republicans were sus spishus about social security and government support for the elderly and spending money on medical research, then, about programs aimed at making sure kids in poverty are getting enough to eat. now this, snot only deeply dishonest it's a gross distorgs. a lecture coming from a man responsible for a massive increase in poverty during his presidency. a third thing we sa
have to do what he calls the right thing on raising the debt ceiling. he says if they don't the u.s. faces a federal default and confusion in financial markets. >> the republicans can act responsibly and y amica' bills or put america through another economic crisis. >> obama says raising the debt limit is necessary for the government to meet its obligations. he said he's willing to compromise on cutting the budget deficit but not in exchange for increasing the debt ceiling. the u.s. government has reached a borrowing limit set by law but republicans continue to reject an increase without spending cuts in social security and other programs. now it's not the first time the u.s. has faced such a stand off. in the summer of 2011 the government and coness mained at odds over raising the limit until the last minute. the incident weighed down on share prices. it also prompted the first downgrade on u.s. government bonds. global car makers are showcasing their latest model at the 2013 international auto show in detroit. more than 50 new models are on display. the u.s. automarket has been
right now like, you know, jobs, unemployment, the debt ceiling, maybe the war in afghanistan could have gotten a word today, or a question are we really getting out. in the d.c. media they're concerned about who is at what cocktail party and what everybody is wearing and how come you're not talking to more people. meanwhile, the president said he puts out invitations to the white house all the time. >> we invite folks from congress over here all the time. sometimes they don't choose to come, and that has to do with the fact that i think they don't consider the optics useful for them politically. >> ah-ha. you can't get your picture taken with the president. that's not good. boehner has turned down invitations to five state dinners in a row. mitch mcconnell and three other republican senators turned down an invitation just to watch the movie "lincoln" over at the white house. it might have embarrassed them a little bit. these snubs are nothing new from republicans. it's dangerous politically for republicans to be seen at the white house. and there is always a tea party candidate close by
relationship with jodie foster. all right. the president talking about the debt ceiling yesterday. >> obama: raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills, and we are not a dead beat nation. >> stephanie: there you go, and who joining us now, but the representative jan schakowsky from the great state of illinois. >> good morning, i understand you have been getting some calls from my friends in chicago. >> stephanie: yes. [ laughter ] >> stephanie: i thought the president put it very well, that you just cannot say it enough. the debt ceiling has nothing to do with budget cuts or anything going forward, it is paying bills that we have already racked up. >> that's so important. it's like getting your credit bill and saying, you know i'm protesting, i'm not going to pay it, because there are consequences, including your own personal credit rating will go down, and you'll get calls from checktors, and it will be pretty bad for you, worse of course for the federal government, and as the president pointed out s
the debt ceiling and the issues surrounding it and play again another one of your colleagues in congress, republican congressman greg walden on "the daily rundown" today with todd chuck regarding the debt limit and the problems he sees ahead. >> i think passing a clean debt limit is problematic for the american people, as well as for the congress and the country. i think we should find common ground here to look at spending reforms for the long term that get us on a path to reducing debt and deficit. the issue is can't we get the president to sit down with us and not tell us it's our way or the highway or his way or the highway? that doesn't produce the kind of collaborative response to a problem. >> so i don't know whose highway specifically he wants to be on here but the bottom line is congressman walden sees at least from his vantage point that the debt limit should be tied to spending cuts and that's the road he'd like to pursue. where are things right now? >> well, here's where things are right now and the president's been very clear. the president's willing to negotiate a way to re
as their waterloo right now, not so much the debt ceiling. >> and the continuing resolution is the way we continually fund government through the budget process. and we have had government shutdowns over that kind of thing before, which is just this re-authorization thing that tends to take a few days and then they do it. so we've seen it before. >> and i agree with steve on that, he has the audacity to disagree with me somewhat. i actually think the republicans looked at the fiscal cliff, they passed the senate bill, said it is up to you. they basically blinked and said we don't want to go over the cliff. so they know they don't really have it will them to want to default on the debt ceiling. the landscape is different from 2011, yes, they're still nutty and responding to that calculus. i don't think they're quite as credible in terms of actually causing a default. and take what? social security and medicare benefit cuts, that is tremendously unpopular, it would be a disaster. but also a catastrophe for the republican party. >> and this comes at a moment where they're being criticized fr
, but on debt ceiling, you're absolutely right. when you take that sentence, what he was trying to say, because he's not talking about having plan "b"s in his back pocket, things like minting coins, 14th amendment, which senate democrats are begging him to do. he's saying, no, if we default, he wants to make it clear then republicans will have decided not to send out social security checks, not to pay our military, not to do these things, so you're right -- he's hoping that the political blame -- now, the irony here, chris, is senior republican leaders, they agree with the president on that. they know that that's a politically bad place for them to be. the question is it's going to shift to the government funding and shut down going forward, and there talking to aides, they get -- that's up for negotiation. but they want it separated from debt ceiling. >> let's talk about this debt ceiling thing, howard. do you think the press objectively can report the way the president tried to sell it, which is if this government can't pay its debts, refuses to pay it because of the debt ceiling, is that the
no congress has ever been crazy enough to do something like this, to say we won't increase the debt ceiling, we don't fully know what the damage is. you're right in that list. if the government can't pay its bills, all those people get hurt. but on top of that and what is most damaging to most americans, especially people out of work is the damage this will do to the american and the global economy. the rest of the world is counting on our economy right now to keep growing so the world economy can keep growing. when newt gingrich says this is a bad idea to use -- hold the country hostage to the debt ceiling, when newt gingrich looks like a moderate and a statesman, i think the republicans ought to rethink their strategy. >> ruth, how badly would this damage the economic recovery? i think it would totally wipe it out. it would probably bring from what i could see unemployment to levels that we haven't seen even back when we had the economic problems in the start of 2009. it would be worse than that. what do you think? >> it would be a complete disaster. and both sides have acknowledged that,
, is for congress to do what it is supposed to do. authorize an increase in the debt ceiling so we can pay our bills. that is the right way to do it. i think that is what will eventually happen. i do not think that going off in the other direction would really be helpful. >> hello chairman bernanke. i am a second year mpp. second question from the audience, does the debt ceiling still have a practical are busy and could it be in limited without much consequence? >> no, it does not really have -- it has symbolic value, i guess area. no other country, i believe, have this particular institution. just so everybody understands what it is, the congress appropriate $100, tells the government to spend $100 on whatever. then it raises $80 in revenue through its tax code. the arithmetic care -- you have got to borrow $20. no, the congress has to give a third rule which says that 100 - 80 equals 20. if the congress is approving spending and taxing, and they are not equal, then logically, there has to be something to make up the difference. that is borrowing. i am not saying that visits and deaths are a good t
over the debt ceiling. there's a continuing resolution to actually fund the government. then there's sequestration. yesterday politico reporting that house gop members are gearing up for a fight over the debt ceiling, but now you have people like newt gingrich, choice of reason in the wilderness. let's play the sound. he is advocating for them not to fight over this. >> it's a threat they can't sustain. no one is going to default. no one is going to allow the united states to not pay its bills. they have much better news to fight over spending. they have a continuing resolution that funds government, which comes up at the end of march, and they have this sequester that automatically cuts spending. >> gingrich isn't saying lay down your arms, but he is saying there are better battles ahead. >> he is saying you're going to lose this debt fight because -- he has said previously that the entire global world of finance is going to come into washington the week before the debt ceiling is hit and they're going to pressure you to cave. i actually disagree with andrew here. i think that the
hard on this one, charlie because he's right on the debt ceiling. major history absolutely dead on. but the debt sealing is a fraud. a total fraud. shouldn't exist. people from alan greenspan to tim geithner to anyone who has looked at it, to paul krugman say it is a total fraud. it's a political device. so on that he's right. and on the substance, right now i think that obama, he may not have articulated as well as quo have but i think he has clearly indicated that if you are looking for more deficit reduction, a bigger deal, not a big deal, he's willing to go pretty far for a democrat on entitlements. right now republicans-- . >> rose: how do you know that? >> well, i think he said he's willing to do that. he has put on the table in private conversations that they had in december, he was perfectly willing to go along with the change in the change for social security, he indicated strongly that he would look at some kind of means testing for affluent medicare recipients. those aren't little things. they are not as much as some people want. but the republicans have said in the last
or not to do regarding the debt ceiling. >> the budget released by governor jerry brown showed a budget surplus for the first time in many years. >>> right now it is 4:44 let's check in with sal on an early morning report on traffic. >>> good morning everybody, it is chilly, let's take a look at traffic on 880 westbound as you head to the mcarthur maze. if you are driving there, it is cold but visibility is good if you could think of the silverling. for most of the area, the bay bridge toll plaza looks good. if you are driving in downtown san jose it looks nice. 4:45 let's go to steve. >>> another cold one out there, i tell you this is a long stretch, 1990, 1997 and we had some very cold weather. it is really only two days. cold frosty conditions, there is frost and freeze warning out overnight lows anywhere from 20 to 40 and we have a few high clouds coming down out of idaho and northern nevada and it is tough to bulging this and unless you get a pattern change this time of year that, cold air settles in and it is tough to move around. we do have these clouds and temperatures are already in th
to -- it comes time to pay the bills. raising the debt ceiling means we agree we're going to pay the bills that congress has already spent. right? we're going to pay for the stuff that congress has already bought. as a president i thought it was an excellent analogy yesterday. you don't go to a restaurant and order a fine meal and then say i'm going to start cutting back right now. i'm not going to pay for that meal. you already ate it, babe! right? >> that's right. how fiscally conservative for them to say we're not going to pay that. let's just clear up this false equivalency that i think it was the first or second question who made the point at the press conference yesterday well, you voted against the debt ceiling in 2006 so what's the deal? look this is -- 2010 -- 2011, after the 2010 election, the whole tea party wave was the first time that you saw republicans hold it hostage. and say unless you do what we want we're not raising the debt ceiling. democrats have never done that. they may have had a problem with the way the mechanics work but they never pushed an entire movement toget
in office. he talked about the debt ceil saying if congress does not work with him to raise the debt ceiling america will be in default and we my have to sell florida. >> watch jimmy kimmel live weeknights right here on abc7 at the new time following abc7 news at 11 and "nightline" is on right after that. >> lebanese -- leave disneyland and the cracked crab >> welcome back on the 4th anniversary of "miracle on the hudson." "sully" sullenberger joins katie about the incredible emergency landing. >> of all people to be piloting that lane, thank goodness it was you. i get on a plane and i think, sully? anyone named sully on this plane. >> i appreciate that and when i travel as a passenger i have people recognize me and they say i feel better knowing you are here. >> i look for him in the cockpit, as well. that is katie at 3:00 p.m. right here on abc7. >> good show. >> 5:23. great mighting that day. amazing to see the pictures. >> now, outside, it is darn cold. >> do we want do? mike, what are we facing? >> freezing temperatures in a lot of areas but this afternoon we are going to chip away at t
deadlines. you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will you support all incumbent house republicans no matter what under all circumstances? or -- is your job to eliminate primary opposition? >> you know, i love how you -- you know, we try to talk in absolutes here. we are a member of organization that supports republicans and republican members of the house. here's when we do and we go out and recruit. i think, you know the voters want to check and balance in washington. we are going to offer a positive alternative. great candidates. we now -- second biggest majority since world war ii coming off the biggest majority. we intend to build on that.
a close eye on the markets selling off to the downside. the debt ceiling remains in focus, and arguably, more important now at this point than the fiscal cliff; right? that's something to keep in mind, no doubt, not just here, but across the globe. the dow down about 14 points, one-tenth of 1% selling off there. keeping an eye on the retailers, numbers of the holidays up half of 11%. you noted facebook, front and center, apple below 500, but look at research in motion. the blackberry maker. january 30th, the day we are waiting for the blackberry 10. we talked about this for easily six months, but now we are hearing about developers and apps being submitted as record pace over at research in motion, carriers signing up on board. research in motion had a nice run over the last month or so. a look today, selling off 4%, and as i noted, there's a nice chart, november, december into 2013, there's a run up. back to you. dennis: hope at rim. thank you, nicole. cheryl: call it deja vu. president obama again attacks wealthy investors. >> they don't think it's fair, for example, to ask a senior t
, is for congress to do what it is supposed to do and needs to do and authorize an increase in the debt ceiling soon compare our debts and bills . that is the right way to do it. and the i think that is what will eventually happen, but i don't think that going off in another direction would really be all that talk -- all that helpful. >> hello, chairman bernanke. i am a second year in pp at the force cool and studying for a graduate certificate in science and technology. second question from the audience, does the debt ceiling of a practical purpose? could it be eliminated without much consequence? >> does what have? >> the debt ceiling. >> it does not really have. it has symbolic value i guess, but no other country, i believe, maybe one or two other, but no other countries in the world have this particular institution . to so everyone understands what is, the congress appropriates $100, tells the government to spend $100 on whenever and then it raises $80 in revenue through its tax code. now, the arithmetic here sort of says, you have to borrow $20. shephard -- the congress has to give a third rule
and his administration right now. gun safety, cabinet posts, the debt ceiling. it's looking like they're finding success. is this is a preview of a winning second obama presidential term? nia-malika henderson and glen thrush. nia, i've missed you. i've seen you on other shows. i've seen some sightings. but thank you for coming back. i find from the producers you have theories about the president. in his first press conference -- the last one of the old year the president warned republicans not to play politics when it comes to the debt ceiling. here's the president. >> but they will not collect ransom in exchange for not crashing the american economy. the financial well being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. >> and that's yesterday's last press conference of the presidential term. newt gingrich of all people reacted by saying the president was bullying republicans. that's a long way from saying he's weak. now he's a bully. let's watch. >> i don't think we should pick fights where we a
the consequences of reaching the debt ceiling but it's not raised quick >> no. >> was the right call? >> i think so. because it gets back to the first question for mr. kline about where we are. and to my comments about the change in the republican ranks, i really think the president had no choice but to essentially say to the republican party, you should not dapple with the debt ceiling, that it's some thin though it has such serious consequences. and i don't want to essentially see if i can find ways around it. those ways are very problematic and essentially what we have to do is face up to the need to address the sequester and then moved on and they don't want you to use as a weapon in the debt ceiling because it's not a weapon against me. it's a weapon against the full faith and credit against the u.s. and therefore is essentially what an again the citizens of this century, our economy and the global economy. you think he needed to be straight up and not say essentially what i'll do is look for ways around it. the republican caucus is a set at the beginning, so dramatically changed from when i j
. he will join us in the next hour to talk about the debt ceiling debate. "squawk box" will be right back. >>> up next on "squawk box," don't start your day without knowing the names that will make you money. joe has your list of stocks to watch right after the break. >>> all right. put this on. it's traveling wilbur. we've got george harrison for your lead for your song >> no, no, no. >> that's a good one. >> but it's all right. and implied there is being a billionaire. ♪ it's all all right i mean, it's -- it is, right? life is good. >> that's true. it may not play well in washington. >> might not play well in washington. i'm going to actually give some information during this segment. much as i'd -- >> you know, that would be a switch. >> that would be a switch. let's take a look at some stocks to watch this morning. lennar reported fourth quarter profit. 56 cents a share. 12 cents, look at the chart, we're talking about the big year that bill miller had and a lot in housing stocks, and if you went back even further you could have bought that thing even cheaper all the way back a
was the looming fight over the debt ceiling saying that america is not a dead beat nation. mr. obama installed that he is not willing to negotiate when it's coming to raising the ceiling. if it's not raised, social security checks and benefits for veterans could be delayed. it could be harder to pay your bills now than it was a month ago. that is because uncle sam is taking an extra 2% out of everyone's check for social security. for most people in the bay area, that is about $80 a month or $1,000 a year. >> scott? >> we will do it with the help of mobile apps. now, step one if you have a mobile device. try to avoid the temptation to upgrade. there you saved your 80 dollars a month already. we have apps to show you, most of us is have to drive and spend money on gas. this app is from the yellow pages. it can save you money. helping you find gas stations and ways to change your oil and tires that are close and less expensive than whatever else is around you. lock in your favorites. map them out, save money. another way to save money. grocery shopping, with strategy this can shave you bucks. you
-recipient of something. host: all right, steve. we will keep talking about whether the debt ceiling is negotiable. the politics in the nation section of the washington post, or u.s. troops lost a suicide ban combat in 2012. record high of 349 deaths. that is a headline in a lot of the papers this morning. on gun-control, it's making the headlines in a lot of papers this morning. political reports that joe biden, white house ready is 19 executive actions on guns. the president indicated yesterday that he has indications -- as recommendations in hand and that he will look at them. there's a new gallup poll, americans dissatisfaction with gun laws spikes to 38%, 38% of americans being dissatisfied with the nation's gun laws scans wants them strengthened. if that is up from 25%. the wall street journal reports this morning, jill biden's gun goals have a wide reach. in the washington post there's a new poll. and the new york times or rather new york state is poised to become the first in the nation to react to the newtown, connecticut, shooting. state senate yesterday approved legislation put forth by
through the debt ceiling debate, continuing resolution. it's going to be bumpy. we'll take full advantage of a market falldown during that period because you've got three main things going for you. housing turning for real, not just an inventory real liquiification and foreclosures. all that have stuff turning for real. it will turn into unemployment back half of the year. a little better transparency on fiscal policy. not necessarily the fix but the transparency. business cap "x" second half of the year and every single central bank in the world reflating so you're very bull strategic defense initiative. >> very bullish. >> i guess the question is are you able to buy into that market at much lower houses? how substantial could a decline be on the so-called bumps in the road? there's some precedent for that. not the first time we've been through it. we've been back through it in 2011 and there's a significant pullback. there's a bit of a been there, done that and we haven't seen the kind of volatility we've seen and in the difference of backdrop the republicans sort of have their backs ag
it right now with the debt ceiling debate. won't do it and won't allow the gun to be placed against the head of the american public. >> eric: he used that kind of reference. important to note in 2006 from the senate floor, snort obama used these words. he said leadership means the buck stops here. america has a debt and failure of leadership. america deserves better. therefore, i intend to oppose the effort to increase america's debt limit. that was him then, but here he is now saying it's irresponsible for the republicans in the house don't give him the free check to spend what he wants. >> gretchen: charles krauthammer on "special report," you see him there most nights on the panel. he had this interesting observation. >> the tone of this address was quite remarkable. he talked about republicans being suspicious of social security and medicare, about the oldest saw that you could hear from -- then he added, ask suspicious of government's role in making sure that impoverished children get food. now, that's a little bit over the top. that's libel. then he said, yes, i love hanging o
they have downgraded to a u.s. credit rating. their debt ceiling debate may have ended higher with their ball recalls perry ebauer arena cost >> here is the bottom line right now, we have debt problems and the united states. we are borrowing at a record low. we go bankrupt and we shut down our country and we lose everything we are definitely needing to start to think about how to cut down spending very at just like mortgage rates will go higher. it is coming. >> it is like getting a credit card and 1%. when the federal government is one it is okay. it is a good time to borrow. but when it is 8% you do not want to the ballroom. >> a another winner is a the driverless cars that are coming to show rooms by 2020. there is a huge an initiative by the government. i keep coming back to, how about this. what about the older people that should not be driving. people want to keep their mobility. my mother can get in a car in the of the take herself to the rose restore. i like this idea. we will see more and more features of this. >> i'm let's talk about our questions. you can send in yo
did not say that, but i didn't vote that way. we've raised the debt ceiling seven times, and it hasn't resolved the problem. the only thing it's done is made us go more in dead. president obama yet on his news conference said raising the debt ceiling will not raise our debt ceiling. all we've raised the debt, we have to may more interest. that in it/will increase the spending. we have a spending problem in this country. that's what we need to address. >> what is your biggest bone of content with john boehner? you've been very public about the fact that you don't think his leadership is something you wanted over this new congress, you didn't vote for him to be the speaker. what is your main problem with him? >> i have no personal problems. i keep hearing that. he himself said i carrying no grudges. we've talked several times. the point is to let him know with le stand up to leadership and hold him account annual. i think that's important to know. that really is on both sides of the aisle. if you go back there were people that challenged the leadership, too. i think that's a good thing
the debt ceiling as the sequel to a bad movie. and investors have a pretty good feel for how this cliffhanger ends. >> they don't really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely tt it going to happen. >> reporter: treasury secretary timothy geithner told congress today that unless it acts, the nation will not be able to pay its bills sometime around mid- february or early march. so with a month of so to go, there is no solution in sight. darren gersh, washington, d.c. >> tom: federal reserve chairman ben bernanke echoed the president's comments on the debt ceiling today, in a speech at the university of michigan, he said congress has to take action to avoid a situation where our governme doesn't pay its bills. ahead of that, stocks were mixed, the blue chip dow rose almost 19 points, while the nasdaq dropped eight, and the s&p 500 down a point. >> susie: weighing on the nasdaq today: apple. the stock got crushed, on word demand for the iphone 5 is slipping. the stock cl
that the concern is about the debt -- >> right. >> bret: that changes the dynamic. >> yes. if that gets reported. what tends to get reported is what they say about the debt ceiling melodrama. and not about the debt. that is what it's been so far. >> bret: thank you. >> you bet. u.s. companies increase their three-tenth of a percentage point. home prices rose .3 of a point in no.. year to year rise was 7.5%. largeest in six-and-a-half years. retail sales were up half a point. in december. the dow was up today, 27-1/2. the s&p 500 gained two. the nasdaq lost 7. gun rights advocates are bracing for the worst tonight. president obama will announce tomorrow morning what he intends to do about gun violence including which of almost two dozen possible executive orders he will implement. here is white house correspondent wendell goler. >> reporter: aides say the president and vice president will propose things we can do as a nation to protect innocents from gun violence and will joined by children around the countrybe who wrote the president letter ins the wake of the tragedy expressing concern about gu
the point that we are on an unsustainable path. >> reporter: portman acknowledges the need to raise the debt ceiling, but he supports the context of getting a handle on the spenning. >> shepard: this is disaster relief for victims of super storm sand gee right. we have had plenty of lawmakers saying we need to get a handle on government spending, but not when people are waiting for major disaster relief money. a key new jersey democrat is saying people from new york, new jersey and connecticut pay their fair share. three state, 16% of the taxes. you ask the question: who suffered because of super storm sandy? certainly, our neighbors in new york and new jersey and connecticut suffered the most. but all americans will suffer if this economic engine is not rebuilt. >> reporter: a number of lawmakers have made the point, it is all about the northeast. but tomorrow, it could be a quake in california. it could be tornados in the midwest or a hurricane in florida. so they're suggesting you may want to be careful taking a hard line on disaster relief money, shep. >> shepard: mike emanuel, thank yo
.7%. >>> urging for actions, president obama and tim geithner say congress must raise the debt ceiling or cause irreparable damage to the u.s. economy. >>> and jump t to the top of the ftse 100 after third quarter revenue beat the forecast, burberry had earnings higher than expected. >>> all right. sorted out my mike issues. "worldwide exchange" is slightly different today because we're analyzing the first german gdp numbers. >> and i come to the u.s. where it's all annualized and we stick to the european data and it's quarter on quarter. given the context, we're still working through what all that means. >> exports in november, down 94.1 billion is where we essentially went. 98.4 billion was the october numbers. so exports in november driving down. and that gdp number is worth pulling out. exports for the year, up 4.1%. as far as production is concerned, it was up 2% in november. but the forecast were for it to rise up 1%. it was a very weak october, as well. it was this production and that production number. when that came out, it essentially made people put a pretty fourth quarter in the who
, nicole. >> hey, tracy and lori. we were talking about the debt ceiling that is something that moved front and center very quickly and will remain right in front of every day's trading in the minds of investors and the traders here on wall street. today the dow is down about 12 points after being higher four days in a row. the s&p has been lower. we had the back and forth action, much of the same today. when i talk to traders about the action we've seen, sometimes they're saying that the moves to the downside haven't been decisive. which then tells them that maybe the market needs to test recent highs before it can really sell off. trying to move lower and it can't. be wary of highs that sell into the profits. let's look at apple, a name we can focus on. nomura cut the price target. they reduced to 530 from 660. right now 487.16. these are the lowest levels since basically february of 2012 and obviously they had to cut their supply orders. back to you. tracy: you said yesterday, ubs kept their 700 target as well. people still have confidence in apple. lori: maybe an entry point around belo
an extension of the debt ceiling, that's not an act of courage. it's an act of sheer hypocrisy and an act of coward es. these same republicans have voted to spend. they voted for spending bills to send money to afghanistan, to send money to iraq, to send money into their own districts, to give money to oil companies. they've already voted for these spending bills, and now they're saying when it's time to actually pay the bill for their votes wropt to do it. it's the equivalent of anybody who goes to put something on their credit card and then calls the credit card company and says even though i bought it and used it, i don't feel like paying for it. i can understand them voting against spending. that's one thing. but don't vote for spending and then say i refuse to pay the bill and threaten the full faith and credit of the united states government, trigger an increase in interest rates, and thwart our economic recovery. that is just irresponsible. it is hip critical, and it is what is wrong with washington and it will fundamentally hurt our economy to make some cheap partisan hypocritical
against the debt ceiling increase. democrat president. dome kratz like the president voted against raising debt limit when he was in the senate and there was republican president. there is hypocrisy all over the place. what was particularly bothersome from the president we didn't hear from him any suggestion of where he wants us to go to solve the long-term problem. i go back to what we all understand is the cause of the problem here and that is entitlements and we need structural reform. melissa: last word real quick, we have to go. >> we'll never get to entitlement reform with a gun to your head that is what is happening with the debt ceiling. >> we didn't get to it before then. melissa: great discussion. next on "money", a stunning number of americans are using their 401(k)s to pay for every day expenses. a top financial planner said you couldn't make a worse decision. he is here to explain. we also asked for some other options if you're in this situation. >>> plus, demand for gas is falling to lows not seen in nearly a decade. many are giving credit to stiff fuel efficiency mandates. i
about the, raising the debt ceiling, the sequestration, and the continuing resolution. >> unfortunately, congresswoman, i think we'll have to leave it there. i think everyone would debris, it would be great to see a budget pass congress, but i think right now, everybody's a little bit more worried about facing the debt ceiling crises, yet again. congresswoman cathy mcmorris rodgers, thank you so much, we'll definitely be talking with you a lot. thank you. >> thank you. >>> still ahead, a stolen train goes flying off the tracks and right into a house. surprising details of who police say is to blame. >>> a stolen train crashes into a house. here's a look at more of the day's top stories. just take a look at this. an incredible scene in stockholm. people say a young woman stole this train in the middle of the night and drove it at dangerously high speeds to the end of the line. that's where it flew off the track and into this house, we'll show you. no one on the inside was hurt and no passengers were on the train, but the young woman was seriously injured. police are investigating just ho
a press conference today. he wanted to talk about the debt ceiling and about the gun control a little bit. he has positive words that are encouraging for those of us who believe he should fight harder. let's listen. >> obama: i want to be clear about this. the debt cereal something not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. the issue here is whether or not america pays it's bills. we are not a debt-deep nation. >> cenk: i like it. now normally i say it should have been stronger, but it was pretty strong and he made his point very good. it continues. >> obama: this is not an implicatedcomplicateed subject. you don't go out to dinner, eat all your want, and then leave without paying the check. if you do, you're breaking the law. and congress should think about it the same way that the american people do. >> cenk: i like it, man. i do. that's exactly right analogy. you know, of course, i'd go further, but i would every time, right? i'd say list
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